Lucintel's latest market report analyzed that recycled carbon fiber provides attractive opportunities in transportation, aerospace, consumer electronics, and sporting goods industries. The recycled carbon fiber market is expected to grow at a CAGR of 1.8%. In this market, non-woven is the largest segment by product type, whereas transportation is largest by end use industry. The development of various processes and methods to reduce energy consumption and cost during recycling process provides strategic growth path in this market.
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Based on product type, the recycled carbon fiber market is segmented into non-woven mats, chopped carbon fiber, milled carbon fiber. The non-woven segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period due to the growing demand for low cost, recycled carbon fiber in structural applications.
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The recycled carbon fiber market is marked by the presence of several big and small players. Some of the prominent players offering recycled carbon fiber include ELG Carbon Fiber Ltd., SGL Group, CFK Valley Recycling, Vartega Inc., Procotex, Toray/Zoltek, and Karborek and others.
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